Accounting 9706 · AS & A Level · Preparation of financial statements

Preparation of financial statements — practice question

At the close of the financial year, the statement of financial position contained the following figures: non-current assets $18000 trade receivables $3000 inventory $1800 trade payables $3600 bank $350 credit At the beginning of the financial year, capital was $19100. Profit for the year was $9200. What amount of drawings did the owner take during the year?

  • A$8250
  • B$8750
  • C$8950
  • D$9450

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